Nifty 20 Mar 23 to 24 Mar 23 Short ,Medium and Long Term
Nifty touched a high of 17530 and low of 16850.
Nifty closed at 17100 ( Prev close 17413 ) due to US Bank/ Global issues.
As per the last week call, Nifty went down and tested 17000 & further touched mid term support 16850.
RSI , stochastic and MACD at oversold zone and yet to recover / Cross the Signal / Moving Average.
Nifty short term - Neutral
Neutral strategy- Either side there is a possibility. make or breakout situation.
Nifty Resistance at 17500/17633(Inclined Trend line - Shown in green color)
Nifty Support at 17000/16823/16779 (inclined trend line - Green Color)
Nifty Medium Term - Buyable if there is any dip
Nifty need to break decisively above 17400 to reach 17800-17900 in Medium term
If not, Nifty might fall to 16850/ 16400/16300 Zone where there are next support.
Long term - Buyable if there is any dip
Target Nifty Resistance 18109(sep high) / 18122(0.5 fib new) /18268 (Dec22 end Jan23 high)
In case if it falls below 16300, then market may go down to 15900.
NIFTY 50 Equal weight, Bank Nifty , Nifty IT and Mutual funds can be accumulated for long term.
Nifty touched a high of 17530 and low of 16850.
Nifty closed at 17100 ( Prev close 17413 ) due to US Bank/ Global issues.
As per the last week call, Nifty went down and tested 17000 & further touched mid term support 16850.
RSI , stochastic and MACD at oversold zone and yet to recover / Cross the Signal / Moving Average.
Nifty short term - Neutral
Neutral strategy- Either side there is a possibility. make or breakout situation.
Nifty Resistance at 17500/17633(Inclined Trend line - Shown in green color)
Nifty Support at 17000/16823/16779 (inclined trend line - Green Color)
Nifty Medium Term - Buyable if there is any dip
Nifty need to break decisively above 17400 to reach 17800-17900 in Medium term
If not, Nifty might fall to 16850/ 16400/16300 Zone where there are next support.
Long term - Buyable if there is any dip
Target Nifty Resistance 18109(sep high) / 18122(0.5 fib new) /18268 (Dec22 end Jan23 high)
In case if it falls below 16300, then market may go down to 15900.
NIFTY 50 Equal weight, Bank Nifty , Nifty IT and Mutual funds can be accumulated for long term.
